Strike Protocol Honeypot

Reported loss Not disclosed
BNB Chain
Honeypot

What happened

Strike Protocol (STRK) is a BNB Chain token deployed on 7 May 2021 at 0x9f8c1b78…a11252 by 0xCa89bBd2…953e56, which the constructor makes the owner and gives the whole supply. The owner can switch on a flag, _feeEnabled, that turns every transfer into the PancakeSwap pair from an ordinary holder into a burn: the sender is debited the full amount, the pair is credited only the remainder below 100 base units, and the rest is removed from the supply. A sale therefore either reverts or delivers almost nothing, while buys and the owner's own transfers are untouched.

The owner address is private and the contract has no function to transfer or renounce ownership. De.Fi's REKT database lists the token as an exit scam/honeypot.

How it happened

  1. The constructor sets _owner = msg.sender, credits it the full 100,000,000 STRK (9 decimals) and creates a PancakeSwap pair against WBNB, stored as uniswapV2Pair.
  2. _feeEnabled starts false, so trading looks normal at launch.
  3. setFeeEnabled(bool) checks only require(_owner == msg.sender), so the owner can set _feeEnabled to true at any time.
  4. With the flag on, _transfer first debits the sender in full, then, for any transfer to == uniswapV2Pair whose sender is not the router, the owner or the contract, computes fee = mul(div(amount, 100), 100). That is the whole amount rounded down to a multiple of 100 base units, so the pair receives at most 99 base units and the fee is burned from _totalSupply.
  5. A holder's sale through the router is a transferFrom from the holder to the pair, so it hits this branch: a standard swap fails the pair's balance check and reverts, and a fee-on-transfer swap burns the tokens for close to zero BNB. Buys (transfers from the pair) and the owner's transfers skip the branch, so the owner can still sell or add liquidity.

Protocol details

Classification Borrowing and Lending
Protocol Type Exit Scam/Honeypot
Affected asset / contract STRK

Evidence

Same attack technique

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